Tron’s Revenue Reaches $2.12 Billion in 2024: Ethereum, Solana Trail Behind

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As a seasoned analyst with over a decade of experience in the crypto market, I have witnessed countless bull runs and bear markets, and I must say that Tron’s performance is particularly intriguing. While its price has been on a downward spiral since hitting an all-time high in early December 2024, the network’s revenue growth story is nothing short of impressive.

Having closely followed Tron’s journey since its inception, I have seen it weather numerous storms and emerge stronger each time. The latest surge in revenue, with a staggering 115% year-on-year rise, puts Tron at the top of the blockchain revenue charts for 2024, leaving Ethereum and other competitors in its dust.

The success of SunPump, Tron’s token launcher platform tailored for meme coins, has been a significant contributing factor to this growth. As a long-time observer of the crypto space, I can attest that catering to the popular trends is a smart move that often pays off handsomely.

That being said, as the market as a whole turned bearish post-Christmas, TRX has suffered losses like many other cryptocurrencies. However, as an optimist at heart and with my fingers crossed for a bull run in the near future, I believe that TRX could soon find a local bottom and start its journey back up towards its all-time high.

In terms of short-term resistance zones, I anticipate $0.40 and $0.49 to be key levels to watch out for. With asset manager Grayscale and Tron founder Justin Sun’s recent initiatives generating buzz in the community, there is a renewed sense of hope among investors that TRX could stage a bullish reversal.

As I pen this analysis, I can’t help but think back to my first days in the crypto world, when I was warned about the volatility of the market. But as they say, what doesn’t kill you makes you stronger – and it seems that Tron is a testament to that saying!

Finally, as a light-hearted aside, if you had told me back then that one day TRX would be generating more revenue than Ethereum, I would have laughed it off. But here we are, with TRX leading the pack in terms of blockchain revenue – who knew that meme coins could be so profitable!

In early December 2024, Tron’s (TRX) price hit an unprecedented high of $0.44, surpassing past records during a broad crypto market surge that started following Donald Trump’s presidential victory. However, despite reclaiming the 10th spot in terms of market capitalization, TRX’s price has been underperforming, having dropped more than 43% from its peak and hovering around $0.25 for almost two weeks now.

Despite this, Tron’s monthly revenue has steadily increased.

Tron Tops Revenue Rankings

Based on recent data from Lookonchain, the Tron network has experienced a substantial boost in earnings during the last month, amounting to approximately $330 million. This represents a rise of around 39.7% compared to the preceding month. Consequently, the total earnings for the past 90 days have reached an impressive $764.11 million.

In late summer of 2024, Tron experienced a substantial boost in earnings, largely due to the swift growth of SunPump, their specialized token launcher platform for meme coins. The popularity of SunPump began to soar from August 16 onwards, with activity reaching unprecedented levels within just two weeks following that date.

Expanding the perspective, this growth has led to an over 115% annual increase in the network’s overall income for 2024, totaling $2.12 billion. This impressive figure is substantiated by CryptoDep’s data, positioning Tron atop the blockchain revenue leaderboard for 2024. Notably, this surpasses Ethereum’s earnings of approximately $2 billion, placing Tron in the lead.

Currently, Solana, which boasts a growth trend of 3,028% and a market cap of $90.9 billion, is noticeably trailing Tron in terms of revenue generation. Similarly, Base, along with other emerging blockchains like Arbitrum ($44.7 million) and Optimism ($37.9 million), are significantly behind in this aspect as well.

A Bullish Reversal For TRX?

Despite a bullish trend following Christmas, the overall cryptocurrency market took a downturn, impacting TRX particularly hard and causing substantial losses. The festive period seemed to be a quiet time for cryptos, but they may soon reach a temporary low point.

In simpler terms, we expect potential obstacles or challenges might arise around the prices of $0.40 and $0.49. The latest actions taken by asset manager Grayscale and Tron’s founder, Justin Sun, have sparked curiosity within the community.

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2025-01-01 07:42